Baker Tilly: Vince Cable will win over mansion tax

Liberal Democrat Cable wants to tax homes worth more than £1m - a policy that has been staunchly fought by his coalition partners on the Conservative side. Baker Tilly's Lakshmi Narain said the mansion tax would be crafted around a new annual charge on ‘enveloped' residential properties, those homes which are held by a corporate entity like a company. The threshold for the charge would be set at £1m, and would be expanded to include all residential properties, not just enveloped ones, the tax adviser predicts. Lakshmi said: "I think Vince Cable will win. I think in the next few yea...